NMDC rose 2.98% to Rs 98.80 at 9:23 IST on BSE after the company announced that its board will meet on 8 January 2019, to consider buyback of the fully paid-up equity shares of the company.
The announcement was made after market hours yesterday, 1 January 2019.Meanwhile, the S&P BSE Sensex was down 108.53 points, or 0.30% to 36,146.04.
On the BSE, 1.08 lakh shares were traded in the counter so far compared with average daily volumes of 1.54 lakh shares in the past two weeks. The stock had hit a high of Rs 98.95 and a low of Rs 97.30 so far during the day. The stock hit a 52-week high of Rs 162.55 on 8 January 2018. The stock hit a 52-week low of Rs 86.45 on 6 December 2018.
Net profit of NMDC declined 24.63% to Rs 636.37 crore on 0.69% rise in net sales to Rs 2437.92 crore in Q2 September 2018 over Q2 September 2017.
NMDC is India's single largest iron ore producer, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines viz., Bailadila Deposit-14/11C, Bailadila Deposit-5, 10/11A (Chhattisgarh State) and Donimalai Iron Ore Mines (Karnataka State).
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